KARACHI: A massive money laundering scheme has come to light, uncovered by the Directorate General of Post Clearance Audit, revealing large-scale under-invoicing in the import of luxury vehicles for commercial use, as per the report.
According to the audit report, which analyzed the faceless customs assessment period between December 2024 and March 2025, high-end cars were cleared at extremely low declared values.
One striking example showed a 2023 Toyota Land Cruiser being declared at just Rs17,635, far below its actual worth.
The audit reviewed 1,335 import declarations and found serious gaps between the declared and actual values. Importers had declared a total value of Rs670 million, while customs officers estimated the actual value at over Rs7.25 billion.
The report also highlighted that duties collected on these imports were just Rs1.29 billion, whereas the actual payable taxes should have been Rs18.78 billion.
Further investigation revealed that importers failed to provide proof of foreign currency remittances for the purchase of these vehicles. The report suggests that payments were made through illegal channels like hundi or hawala.
One of the most severe cases involved a 2023 Land Cruiser, which was worth over Rs10 million and should have been taxed at over Rs47.2 million, yet it was cleared with 99 percent under-invoicing.
The report concluded that the importers not only evaded taxes but also misrepresented the vehicle values in their income declarations. Based on these findings, authorities are expected to take strict action.
Separately, an audit of the Livestock and Dairy Development Department in Khyber Pakhtunkhwa found 80 missing government vehicles from project records.
These vehicles were bought between 2007 and 2021 for various development projects, but a comparison of departmental records and Excise Department data during the 2023–24 audit uncovered major discrepancies.